Pine Labs IPO Lists Today on NSE & BSE; Experts Expect Muted Market Debut with Low GMP

Pine Labs Private Limited, a leading Indian fintech company, is making its stock market debut today, November 14, 2025, with shares expected to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The IPO, priced at Rs 210-221 per share, was oversubscribed 2.5 times during the subscription window from November 7-11, raising approximately Rs 3,900 crore through a mix of fresh issue and an offer-for-sale by existing shareholders.

Grey Market Premium (GMP) ahead of listing remained modest at around 3%, indicating a cautious yet steady interest from investors. Market analysts suggest that the IPO listing may see a muted debut on the bourses due to high valuations, with Pine Labs trading at EV/Sales and EV/EBITDA multiples implying premium pricing.

However, experts maintain a positive long-term outlook given the company’s robust business model centered on payment solutions, merchant financing, and payment processing across India’s retail ecosystem. Investors are advised to view the IPO as a long-term investment opportunity amid evolving fintech trends in India.

Key Highlights:

Pine Labs IPO subscribed 2.5 times; listing date November 14, 2025.

Issue price fixed at Rs 210-221 per share; lot size 67 shares.

Rs 3,900 crore capital raised through fresh issue and offer-for-sale.

Grey Market Premium steady at approx. 3%, signaling tempered listing enthusiasm.

Valuation rich with EV multiples suggesting premium pricing.

Robust fintech business model supports long-term growth potential.

Sources: Financial Express, Moneycontrol, CNBC TV18, ArihantPlus